Marketline Report for Friday, March 2nd
This is Bob Larson with the Market Line Report for Friday, March 2nd. Cattle market ends the day up a bit in recovery mode. From the floor of the CME in Chicago, here's Joe Vaclavik ...
VACLAVIK ... "We've generally trended lower this week following what was a bearish cattle on feed report from the USDA this past Friday. Kind of a negative action here overall. The boxed beef market's been very strong despite the lower board and some other negative factors, the boxed beef market's been very strong. We had this range where we consolidated from $200 to $210 in choice boxed for a long time. We're up as high as $221 this week so that market has improved quite a bit perhaps indicating some better demand or tighter supplies here down the road. The cash cattle market, we did see some cash trade in the in the $126 to $127 range yesterday, traders waiting to see what develops during the later part of this week here, but $126 to $127 is what caught some early light trade on the cash cattle this week."
Chicago March Wheat prices closed yesterday up 21 at 506 ¼
March corn was up 4 ¼ at 378 ¼
Portland prices for soft white wheat of Ordinary Protein for February ended the day unch ranging from 5-40 to 5-95 ½ Hard Red Winter wheat with 11 ½ % protein, prices for February were up 21 ¾ ranging from 6-79 to 7-01 DNS wheat with 14 % protein, prices for February were up 14 ranging from 7-50 to 7-55
Live Cattle for April were up $.05 at 123.50 March Feeder cattle are up $.30 to 145.12 ½ March Class III milk was up $.06 cents at 14.08
